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Polyurethane Elastomers Market, by Regional Growth Factors, Trends & Analysis of Leading Players By 2025

Author : Rahul Varpe | Published Date : 2019-09-27 

Asia Pacific registered itself as the largest market for polyurethane elastomers market which is majorly driven by growing end-user industries such as building & construction, automotive, electronics, etc. Rising product demand in China is strongly influenced by rising footwear manufacturing industry which is due to the availability of cost effective labor in these countries. Furthermore, growing investment in research & development in electronics sector in the region by the key players to develop advanced technologies will drive the electronics industry growth and will fuel the polyurethane elastomers market size in the coming years.

 Europe is another region which possess a high growth potential owing to positive growth indicators from shoe industry. Also, automotive sector in Germany is among the largest in terms of manufacturing, which will boost product demand and thus result in driving the global polyurethane elastomer market size in the forecast timeframe.

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On the basis of end user segments, the market is categorized into automotive, footwear, building & construction, electronics and others. Automotive and footwear segment accounted to be the largest end user segment of the market in 2018. Polyurethane elastomers are mainly used in automobile suspension bushings, manufacturing of wheels and in many other automobile parts.

Positive growth indicators in Asia Pacific automotive industry is attributed to easy loan approval process and rising consumer disposable income which will drive product demand and thus result in achieving promising gains to the overall polyurethane elastomers market size by 2025. In shoe making, the product is used as a replacement for rubber, whereas in the electronics industry, product is used in the formation of high resilience foams, insulation panels, etc.

Polyurethane Elastomers Market size has been witnessing a positive growth trend strengthened by increasing demand from footwear manufacturing industry mainly in the emerging economies. Polyurethane elastomers are produced by the reaction hydroxy group in polyols with isocyanates. They are classified as a material or class of polyurethane having properties similar to rubber. The material exhibit qualities like plasticity, resistance, elasticity and resistance to solvents and abrasion.

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Increasing product demand from several end-user industries including electrical & electronics, building & construction, automotive, etc. are likely to fuel the overall polyurethane elastomers market size in the forecast timeframe. Apart from the above-mentioned factor, growing product demand from footwear manufacturing sector is one of the key reasons uplifting the market growth.

 Growing socio-economic factors in the emerging economies and changing lifestyles is majorly driving the footwear demand, which will have significant positive impact on the overall polyurethane elastomers market share by 2025. Furthermore, robust growth in automobile sector mainly in emerging economies has further propelled product demand owing to its high durability which will help attain promising gains to the overall market size in the coming years.

Polyurethane Elastomers Market, By Product Type, 2014-2025 (Kilo Tons) (USD Million)

  • Thermosetting Elastomers
  • Thermoplastic Elastomers

Polyurethane Elastomers Market, By End User, 2014-2025 (Kilo Tons) (USD Million)

  • Automotive
  • Building & construction
  • Footwear
  • Electronics
  • Others

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The overall polyurethane elastomers market share is highly competitive due to the presence of several large scale players in the market Some of the major market players are BASF, The Dow Chemical Company, DuPont, Huntsman International, Covestro and VCM Polyurethanes.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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